“VERZUZ has always been a platform that is by the artists, for the artists and with the people,” Swizz and Timbaland said in a statement. In May 2021, the companies inked new worldwide licensing deals covering publishing and recorded music.Īccording to Complex, On Thursday, the parties announced they had reached a settlement deal. Meanwhile, in early 2021, Universal Music Group pulled its music catalog from Triller, alleging the app maker wasn’t paying artists for the use of their music. Separately, Triller has been accused by multiple creators of failing to make promised payments under its announced $14 million program with 300 Black influencers to create content for the app, the Washington Post reported earlier this month.
By putting Verzuz in the Triller Network ecosystem and expanding the Verzuz brand to be side by side with the powerful Triller app, we will be able to continue to grow and evolve the music business as a whole, as we have been doing.” In a statement in March 2021 after they sold Verzuz to Triller, Swizz Beatz and Timbaland said, “This is a momentous occasion not only for Verzuz and Triller but the music business as a whole. RELATED: American Actor James Van Der Beek Files A Lawsuit Against SiriusXM for $700K Over Axed Podcast
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The lawsuit filed on behalf of Swizz Beatz and Timbaland seeks $28,095,000 in damages, plus applicable interest, as well as legal fees and “other and further relief as this Court deems just and proper.” We hope this was just overzealous lawyers jumping the gun… If this does proceed in court we look forward to a judgment that weighs all the facts.“ The Triller spokesperson continued, “It is unfortunate they elected to elevate this to the press as a ‘legal shakedown’ and it ignores the fact that they have deliverables which include, but are not limited to, delivery of a set number of Verzuz for 2022. We don’t believe they have met the thresholds for that payment yet, but have been trying to resolve it amicably.” “Only one payment of $10 million was in question.
“This is nothing more than a performance dispute,” the Triller rep said in an emailed statement. The dispute concerns earn-out payments - and, according to Triller, the duo have not met the threshold for receiving the additional money. In response, a Triller spokesperson said that the company has paid “over $50 million” in cash and stock to Swizz and Timbaland to date.
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